Happiness is the key to success. If you love what you are doing, you will be successful. It is through education that the daughter of a peasant can become a doctor, that the son of a mineworker can become the head of the mine, that a child of farm workers can become the president of a great nation.
It is what we make out of what we have, not what we are given, that separates one person from another. The tragedy lies in having no goal to reach.
An important key to self-confidence is preparation. Luck is when preparation and opportunity meet. Chapin Jr. It never knocks. You can wait a whole lifetime, listening, hoping, and you will hear no knocking. None at all. You are opportunity, and you must knock on the door leading to your destiny. Featured photo credit: Celestine Chua via flickr. Serial entrepreneur and working towards Early Retirement Read full profile.
Finances can push anyone to the point of extreme anxiety and worry. But did anyone tell you that it is actually not a tough task to meet your financial goals? In this article, we will explore ways on how to set financial goals and then actually meet them with ease. Though setting financial goals might seem to be a daunting task but if one has the will and clarity of thought, it is rather easy.
Try using these steps:. Any goal let alone financial without a clear objective is nothing more than a pipe dream. It is often said that savings is nothing but deferred consumption. Therefore if you are saving today, then you should be crystal clear about what it is for.
What is wealth consciousness?
Once the objective is clear, put a monetary value to that objective and the time frame. The important point at this step of goal setting is to list all the objectives, however small they may be, that you foresee in the future and put a value to it. Similarly, while it might be a good thing to keep your financial goals a bit aggressive, going out of the line will definitely hurt your chances of achieving them. And this quote sums up the best what inflation could do your financial goals.
Therefore account for inflation whenever you are putting a monetary value to a financial objective that is far away in the future. So always account for inflation.
The 70/30 Rule
Just like every calorie is not the same, the approach towards achieving every financial goal will not be the same. It is important to bifurcate goals in short term and long term.
As a rule of thumb, any financial goal, which is due in next 3 years should be termed as short term goal. Any longer duration goals are to be classified as long term goals. This bifurcation of goals into short term vs long term will help in choosing the right investment instrument to achieve them. More on this later when we talk about how to achieve financial goals. The journey of setting financial goals is an individualistic affair i. A lot of times we get on the bandwagon of goal setting only to realize later on that it was not meant for us. It is important that your goals are actually your goals and not inspired by someone else.
You will need to save enough; and invest those savings wisely so that they grow over a period of time to help you achieve goals. The first and the foremost thing to be done is to track your monthly expenses. Use any of the expense tracking mobile apps to record your expenses. It's easy! Well, maybe not easy, but there are basic fundamentals. In the belief that we all need to be reminded of them regularly, here are some of the secrets that have helped me and my clients over the years:. Focus on values.
I've known people who made some money, but I've never known anyone who got rich without examining their own values, priorities and beliefs. Start by writing down a list of things you value, things you believe, what you want, and what you plan to do with this incredible life you have. Start with your values. Get a life. Before you can handle great wealth, you must make room for it.
Consciousness and Money
This is the old, "if you build it, they will come" model. Trying to squeeze success, wealth, fame or fortune into a small life won't work. Create a life first; the lifestyle of your dreams will follow. Eliminate clutter. Trying to create success and achieve wealth while your life's a mess won't work.
Success requires clear priorities and a passionate commitment. Simplify your life.
Why Inequality Persists in America
Eliminate the excuses. Clean up everything that distracts you from reaching your most important goals. Specify your results. Nobody can hit a target they can't see. Define your outcomes and set clear, achievable results in advance. Know what "success" looks like! Have measurable, specific outcomes and determine that you will achieve them! Visualize and Achieve Your Dreams Achieve your dreams and goals with the power of creative visualization and turn your imagination into reality. One example of an unhealthy mindset is the scarcity mindset.
The scarcity mindset views things like wealth, success, and fame as something like a pie. In this worldview, Bill Gates is inherently evil, regardless of how much good that he has done for society, regardless of how much he has helped others, both through his products and through his foundation. To whatever extent you find yourself resenting rich and successful people, you have a scarcity mindset. To whatever extent you find it difficult to be truly, genuinely happy for the success of others, you have a scarcity mindset. The alternative to a scarcity mindset is an abundance mindset.
The abundance mindset says that we can create more value for everyone. Instead of viewing wealth and success as a zero-sum game, we can create win-win situations where everyone comes out better than they were before.
If you have a scarcity mindset, you will find it hard to collaborate with others because their gains are your losses. If you have an abundance mindset you will readily collaborate with others because you recognize that you can create more value that way. We can make the pie bigger. We can make new pies.
In fact, if you really want to get ahead, the way to do so is not by looking out only for your interests, but the interests of others.
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